The inside history of the Carnegie Steel Company, a romance of millions . rable, and probably in-ured to the injury of com-peting iron-rail makers inthe same district, they wereno greater than those re-ceived by other manufact-urers of steel rails wholoaded their own ship-ments. At first this rebate was confined to thePennsylvania lines ; butpresently President Garrett, of the Baltimore and Ohio Rail-road, who had some suspicion of the facts, sent representativesto Pittsburg to learn the reason of the apparent discriminationagainst his road. As a result of their report Mr. Shinn, gene
The inside history of the Carnegie Steel Company, a romance of millions . rable, and probably in-ured to the injury of com-peting iron-rail makers inthe same district, they wereno greater than those re-ceived by other manufact-urers of steel rails wholoaded their own ship-ments. At first this rebate was confined to thePennsylvania lines ; butpresently President Garrett, of the Baltimore and Ohio Rail-road, who had some suspicion of the facts, sent representativesto Pittsburg to learn the reason of the apparent discriminationagainst his road. As a result of their report Mr. Shinn, generalmanager of the P2dgar Thomson works, received an invitation tovisit Mr. Garrett in Baltimore, when an arrangement similar tothat in force with the Pennsylvania company was made, andthe traffic was then divided between the two roads. Another factor which contributed in no small degree to thesuccess of the firm was the voucher system of accounting whichMr. Shinn introduced. This had long been used by railroads,and the Standard Oil Companys accounts were thus kept; but. Tnere goes that bookkeeper. SHLvys svsv7:jr of accocwjs 85 it was not in general use in manufacturing concerns, and theICdgar Thomson Company was the first to adopt it in order for rails was ever accepted until there had first beenascertained the actual cost of every element entering into theirmanufacture, and options obtained on the pig-iron of which theywere to be made. An eloquent testimony to the efficiency ofthis method of accounting was given by a workman engagedin building a heating-furnace: There goes that book-keeper. If I use a dozen bricks more than I did last month, heknows it and comes round to ask why! This was no exag-geration. The minutest details of cost of materials and laborin every department appeared from day to day and week to weekin the accounts; and soon every man about the place was madeto realize it. The men felt and often remarked that the eyesof the company were always on
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